Is LBinary A Legit Broker or a Scam?

When I was approached to do an LBinary review to verify if this broker is a scam or not, I was quite excited. I immediately went online to search the internet, and as expected, there are many LBinary.com reviews which clearly state that this broker is a scam and that they should be avoided. Before I give any broker a black mark though, I think it is only fair to do a full investigation so that we can reveal the facts. So let’s get started and what better place to start than lbinary.com

Website

From the moment you enter the LBinary.com website, you cannot help but notice the professional look of this broker. The site is easy to navigate and it has a wealth of information on the homepage including their investment plans, trading platform, banking information daily market reviews and more. The first thing that caught my attention on the homepage, was the fact that LBinary was voted as the ‘Top Rated Broker 2013’ by Daily Forex.com. They also received the ‘Best Customer Service’ award so my first impression of an lbinary scam does not seem to be valid. The website is also offered in seven different languages including English, Arabic, French, Italian, Russian, Spanish and German which clearly indicates that this broker caters for traders worldwide. It’s now time to test the trading platform of LBinary which means that we will need to open a trading account.

Opening a Trading Account With LBinary.com

On the homepage of the site, you can open an account which is free of charge. There is a short registration which requires your full name, country, email address and your contact telephone number. You can also request to speak with a trading coach before you submit your details. Once you click on the ‘Open Account’ button, you are redirected to another registration form which requires you to create a password for your trading account as well as select the currency of your account. Your choices are US Dollar, Euro and British Pound Sterling and once you have made this choice, you cannot change it at a later stage.

The terms and conditions are also presented and once you have accepted these terms and submitted the required information, your trading account is activated and you can deposit money into the account. Another impressive feature of LBinary is that they clearly understand that no two traders are the same and for this reason, they offer different types of trading accounts as follows:

Micro Account

Silver Account

Gold Account

Expert Account

Platinum Account

Let’s review this account types in more detail.

Micro Account

This trading account is a basic trading account and the added features include email support and a dedicated account manager.

Silver Account

This type of trading account also provides traders with email support, a dedicated account manager as well as a 60 minute trading lesson.

Gold Account

This trading account type is regarded as the best offer and it provides a trader with email support, a dedicated account manager, a 60 minute trading lesson, a trading strategy as well as quick money transfer.

Expert Account

If you are a seasoned professional, then the Expert trading account from LBinary is for you. This account offers email support, a dedicated account manager, a 60 minute trading lesson, a trading strategy, quick money transfers as well as one-on-one trading with a trading expert from the broker.

Platinum Account

This trading account offers some unique features such as a VIP phone line enabling you to contact LBinary at any time, one-on-one trading, trading strategies, quick money transfers, a 60 minute trading lesson, email support as well as a dedicated account manager.

Despite the different account types, LBinary clearly states on their site that each trader is important to them and that all their clients receive professional support and service. They also offer regular bonuses and risk free trades and you also have the option to upgrade your account type at any time. The minimum initial deposit requirement is $250 which is a little above the average amount of $200 that most brokers in the industry charge.

I was quite impressed with the selection of trading accounts and with the fact that the broker offers tailor-made account types based on the trader’s needs. So far, I have been unable to prove the existence of an LBinary.com scam but let us continue on now to the trading platform.

Trading Platform

The core of binary options trading is the trading platform and LBinary clearly will not disappoint you in this area. The trading interface is intuitive and easy to use and the broker offers a selection of trade options to trade in. These include the standard binary options trade option, 60 Seconds, Option Builder, One Touch and Open Platform. Once you have logged into your trading account, you can start trading immediately since the trading interface is 100% web-based. This means that you do not need to download any software.

From the trading interface, I can also clearly see that this broker offers a wide variety of assets to trade in so let’s review this. The investment minimum per trade is $25 but for 60 Seconds trade option, the minimum investment amount is only $5.

Assets

From the homepage of the LBinary website, you can click on the Asset Index tab and you will be redirected to a full list of all the assets this broker offers to trade in. These include 18 stocks such as IBM and Coca Cola, 25 indices such as NASDAQ and FTSE 100, 7 commodities such as sugar and oil as well as 29 currency pairs such as AUD/JPY and EUR/CAD. The asset index will give you detailed information on each asset including the trading hours, the Reuters code and the expiry rule. Having access to this detailed data can help boost your trading accuracy and will also give you more insight into market movements and how this impacts the asset prices.

The asset index from LBinary offers a wide selection to trade in so I have no complaints in this area. Let us move on now to banking.

Deposit and Withdrawal

As a trader, it is important to be able to deposit and withdraw funds in and out of your trading account with ease. From the homepage of the LBinary website, you can click on the Finance and Banking tab and you will be redirected to the different banking options offered by the broker. These include credit cards such as Visa, MasterCard, Delta, American Express, Maestro, Maestro UK (Switch and Solo) as well as Visa Electron. You can also make a deposit into your trading using a debit card and bank wire transfer.

When it comes to withdrawing funds from your LBinary trading account, this can be requested from within your trading account. The broker has a minimum withdrawal amount for wire transfers of $500 and $100 for credit card or debit cards and they charge a $30 fee per withdrawal request. According to LBinary’s terms and conditions, the broker takes up to 3 business days to action a withdrawal request which is impressive.

In case you were wondering, LBinary uses an internationally accepted security Secure Sockets Layer (SSL) system and this encrypts all credit card payments over the web. In this way, your financial and personal information are well protected and secure.

Let’s review the rate of return offered by LBinary.

Rate of Return and Bonuses

Trading online is all about making money, and a lot of it. On the homepage of the LBinary.com website, it clearly state that this broker has the highest payout rates in the industry of 720% return on the One Touch trade option. Other trade options offer payouts up to 85% on trades that end in-the-money. This broker also offers a rebate on unsuccessful trades between 0-10% of the investment amount.

LBinary is currently not offering a welcome bonus but it clearly states in their terms that any bonus amount will need to be traded over 25 times before you can make a withdrawal so make sure to check these terms carefully before accepting a trading bonus from the broker.

Lbinary.com also rewards loyalty and their refer-a-friend program will give you a bonus of $100 per friend that you refer to the broker, who signs up and makes a minimum deposit of $500. Your friend will also receive a bonus of $100.

The bottom line is LBinary.com is offering a competitive payout rate and they are definitely one of the highest in the market, so I have no complaints here. Let us move on now to the trading tools they offer.

Educational Trading Tools

If you have any doubts about the legitimacy of LBinary, then look no further than their educational trading tools to put your mind at ease. This broker offers a wide variety of tools such as daily market reviews and detailed information on how to trade each trade option on their trading platform. They also offer a fully comprehensive FAQ’s section and information on the basics of binary options and trading online. Their education center offer videos-on-demand which is divided into three sections namely, beginners, advanced and our platform. Some of the videos available for the beginners’ video course include course introduction, trading is an art form, chance and risk, advantages of binary options and more while the advanced course covers topics such as advanced trading strategies, market analysis, support and resistance and more. The ‘Our Platform’ videos focus on helping traders to trade on the LBinary trading platform effectively by reviewing how to trade, the different trade options, opening an account and more.

LBinary also offers a full Binary Options video training section which covers an introduction to binary options, trading psychology, market analysis as well as financial management. You can also access the broker’s eBook which covers important topics on trading binary options online. All these trading tools are available free of charge once you have signed up and opened an account with the broker. But there is more.

LBinary offers a unique trading tool which they refer to as Social Trading. This tool enables you to follow top traders. That is, you can filter your search of which types of traders you want to follow such as cross asset traders or traders who are trading a specific asset such as a stock. Once you have made this selection, you can then see how much money the trader how won, how many options they have open, their success rate, how many other traders are following them and how much they have invested. The bottom line is with this tool you are able to boost your trading success by simply following other pro traders who are making money while trading online with LBinary.

Providing their traders with superior trading tools is important to LBinary and this is clear on their mission statement which says “we believe that an educated trader makes better trades, and the better our traders are, the better our firm will be”. With so much emphasis being placed on the trader, this broker is clearly not a scam.

Mobile Trading

LBinary offers a mobile trading platform which enables you to trade at any time and from anywhere. This iPhone and Android app is available free of charge and it provides you with the flexibility to trade while on the go. The mobile trading platform is simple so there is no learning curve – all you need to do is predict if the price of an asset will move up or down by the expiry of the trade. It really is this simple.

Until now, I have reviewed LBinary extensively and all that I have left to test is their customer support so let’s move on.

When I was approached to do an LBinary review to verify if this broker is a scam or not, I was quite excited. I immediately went online to search the internet, and as expected, there are many LBinary.com reviews which clearly state that this broker is a scam and that they should be avoided. Before …

Review Overview

Ease of Use - Top trading platform and superior trading tools and features - 95%

Customer Support - Live Chat, Email, and Telephone - 100%

86%

Summary : We have now come to the end of this LBinary review and it should be clear to you that this broker is professional and offers superior trading features and tools. If you are new to the binary options trading arena or a professional trader, LBinary should definitely be your first choice.

Follow us on Google+

Review Overview

Is LBinary A Legit Broker or a Scam?

When I was approached to do an LBinary review to verify if this broker is a scam or not, I was quite excited. I immediately went online to search the internet, and as expected, there are many LBinary.com reviews which clearly state that this broker is a scam and that they should be avoided. Before …

Review Overview

Ease of Use - Top trading platform and superior trading tools and features - 95%

Customer Support - Live Chat, Email, and Telephone - 100%

86%

Summary : We have now come to the end of this LBinary review and it should be clear to you that this broker is professional and offers superior trading features and tools. If you are new to the binary options trading arena or a professional trader, LBinary should definitely be your first choice.